União monetária européia - UME : evolução recente e perspectivas
By: NUNES, Ricardo da Costa
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Contributor(s): NUNES, Selene Peres P.
Material type: 
ArticlePublisher: São Paulo : Editora 34, jan./mar. 2000Revista de Economia Política = Brazilian Journal of Political Economy 20, 1 , p. 51-72Abstract: This paper discusses the uniqueness and the stability of the proposed model for the European Monetary Union - EMU, pointing out some of the difficulties faced in its implementation and the chances of surpassing them. It also suggests how all the points of European monetary integration - central bank independence, balanced budget and stability of the exchange rate within a certain band of fluctuation - are sustained upon the proposition that economy founds auto-adjustment since there is flexibility of wages and prices and the States intervention remains as short as possible. Thus, the need of convergence of economical and financial EMUs criterion and the sufficiency of its achievement to a greater development of Europe in face of other countries bring the discussion back to the theoretical paradigm
This paper discusses the uniqueness and the stability of the proposed model for the European Monetary Union - EMU, pointing out some of the difficulties faced in its implementation and the chances of surpassing them. It also suggests how all the points of European monetary integration - central bank independence, balanced budget and stability of the exchange rate within a certain band of fluctuation - are sustained upon the proposition that economy founds auto-adjustment since there is flexibility of wages and prices and the States intervention remains as short as possible. Thus, the need of convergence of economical and financial EMUs criterion and the sufficiency of its achievement to a greater development of Europe in face of other countries bring the discussion back to the theoretical paradigm
Revsta de Economia Política 2000
v. 20, n. 1(77)
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